Buying a Home
Buying a house is a big investment so making an informed decision is critical.
Once you have found the home you want, it checks out following a pre purchase inspection undertaken by Eden Pacific, and has all the features you need, the next steps are to check all the paperwork – LIM, Floor Plans, Council File etc, get an agreement in writing to buy, arrange the finance and make the big move!
Here are a few tips to help you on your way
Purchasing Your New Home
Look around – Ensure you do your research
Find the house that is right for you and has all the features you need.
Ensure a Pre Purchase Inspection is undertaken
We will carry out a thorough inspection of your property and provide you with a fair and honest comprehensive written report, complete with photographs of any problem areas to give you assurance that the home you are buying is of the quality you expect.
Our director David Hughes is also a member of the New Zealand Institute of Building Surveyors.
Dealing with Real Estate Agents
The agent has no legal obligation to point out the defects of the property to you, but neither are they permitted to make misleading statements or give misleading impressions about the property. So ask lots of questions and make sure they get back to you with answers. Good communication is key.
Apply for a Land Information Memorandum (LIM) from the Council and an Associated Property File
This should give any information that the council thinks is relevant, including storm water or sewage drains, historic places trust protection, any rates owing on the land, special land features such as erosion or flooding, zoning, notices and Permits, building consents or requisitions, and other certificates previously issued by the local council or Building Consent Authority.
Building Code Compliance
If you discover from the LIM or council files that some work has been done on the house without a building consent, follow this up with the vendor/agent.
You can ask the vendor to have the appropriate inspection undertaken and followed up with Council (We can assist you with this if required).
The vendor is not bound to comply with your request (and the council may or may not decide to issue compliance) but risks losing the sale by not being able to demonstrate that the work that can be inspected is up to Building Code standard.
Checking the title and conveyancing
It is essential to do a title search before you purchase any property to find out about the ownership of the property and whether there are any restrictions on the usage of the land, such as a fencing covenant, or building restrictions.
Talk to the agent about obtaining a Certificate of Title or visit Land Information New Zealand here.
Getting a Valuation
A valuation may give some guidance as to the market value of the property, although it may bear little relation to the purchase price, which is the price agreed on between a willing vendor and purchaser. However, your bank may ask to see a valuation if you are seeking a mortgage / finance.
A registered valuer is one who has met the standards and requirements of the Valuers Registration Board (VRB), and has a current practicing certificate from the VRB. We can make recommendations if you require assistance…
Most people have to borrow to buy a new home. We always recommend looking around to see which financial provider can offer you the best financial solution to help secure your new found home. It is a good idea to look on different banking websites for more advise and tips
Making the Move
Insure you organise comprehensive house and contents insurance so that when you formally take possession, your new home is insured and your insurance company has your new address for contents insurance.
When you’ve chosen the house, and settlement draws near, you need to consider the actual move. There are a number of options from packing and moving yourself, to going out and leaving the whole task for someone else to manage.